Wheat repeatedly fell on the Paris stock exchange. The May contract closed yesterday at EUR 253.50 per tonne, EUR 4.50 lower than on Monday. Prices are also falling on the cash markets. Farmers reluctantly sell goods. More and more talks are being held for contracts for new crops, here buyers and sellers are far apart. Franko Südoldenburg is said to be offering prices between 235 and 240 euros/t, sellers are demanding prices that are up to 5 euros above the current spot market level of 260 euros/t. However, transactions only come about very sporadically. Until 19.3. the 27 EU countries have exported 22.13 million tons of soft wheat to third countries. In a direct weekly comparison, the export volume has decreased again somewhat. The import requirements of North African countries are likely to remain high in the coming financial year. In many countries it is currently too dry for wheat cultivation, which is why the expected production volumes are likely to be low. Some are reporting the worst drought in over 30 years. Wheat also went strongly south at the CBoT.In addition to the extension of the grain agreement - despite all further uncertainties - better growth conditions for US winter wheat stocks also weighed on prices here. At the end of the trading day, the most traded date in May showed a minus of 17.50 US cents/bu and a closing price of 683.25 US cents/bu (233.08 euros/t) on the price table of the Chicago stock exchange.
Source
VR AGRICULTURAL
